Recently on 20th December, Solar Energy Corporation of India (SECI) announced the extension of the last date of submission of bids in response to setting up 750 MW grid connected solar photovoltaic projects under JNNSM Phase II Batch I. The last date has now been extended from 28th December, 2013 to 20th January, 2014 (Up to 12.30 hrs). As per the announcement, this extension has been made based on various requests SECI/MNRE received for the same. It also mentioned that a document with amendments and clarifications related to VGF Securitization agreement will be uploaded on the website soon. This announcement made on SECI website can be accessed here.
A month after releasing the final RfS document, SECI released Clarifications to the RfS document and Amendments document along with Revised PPA on 30th November following the pre-bid meeting. Our blogpost on the final RfS document released in October is available here. Given below are some of the clarifications and amendments from these documents:
- SECI will be responsible for taking the Open Access and amendments have been made to Clause 3.7 D (ii) with the addition of the following sentence – ‘ ..SECI shall take necessary open access wherever required…’
- Ownership and possession of land is not required at the time of responses to RfS and PPA. It is required at the time of Financial Closure and the bidder is allowed to change the location of the project (within the State) until this time of Financial Closure
- All the timelines become effective from the date of issue of LoI
- In case SECI refuses to purchase excess power and SPD can sell it to a third party and claim REC for the same as per the prevailing REC regulations. SPD however cannot get RPO/REC benefits for excess power purchased by SECI
- No changes will be made to the VGF disbursement process
- Earnest Money Deposit (EMD) – Rs. 10 Lakh/ MW in the form of Bank Guarantee as against Rs. 10 Lakh/ MW per Project
- SECI issued letters to all the State Utilities/Discoms inviting ‘Expression of Interest’ from willing State Utilities/Discoms for purchasing solar power under VGF scheme @ Rs. 5.50/kWh and have received confirmation for this power purchase
- With reference to selection of projects for allotment (after opening of financial bids), the bidders are required to give a declaration in the Covering Letter wherein they will either choose to accept the last capacity offered or opt out of the process
The Clarifications document based on the queries is available here. The Amendments to the RfS document and the Revised PPA document (Draft) can be accessed here and here.